Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Is the pound depreciation against the euro a problem?
- This topic has 10 replies, 6 voices, and was last updated 15 years, 6 months ago by Anonymous.
December 6, 2007 at 1:54 pm #53507
I have been looking the idea to accept some jobs offers at the uk cause the better professional environment and also the wage in pounds.
But during this year I have seen that the pound has drop from 1.50 euro at the beginning of the year to a 1.39 today and with BoE lowering rates and BCE mantaining it or even uppering rateds soon seem posible more depreciation of the pound against the euro.
Is this a great problem for brits with a mortgage in a property in spain but a wage or pension in pounds?
December 6, 2007 at 2:30 pm #76511peterparra wrote:Is this a great problem for brits with a mortgage in a property in spain but a wage or pension in pounds?
Well, it is a 10% salary/pension cut… Depends how much was the intial figure.
Cut 10% from £5000 and still get £4500 which is still a good figure.
Cut 10% from a very low £500 and get an even lower £450 which is bad figure.
December 6, 2007 at 2:51 pm #76512
Depends on personal circumstances and in property if your buying or selling.
Of course that exact senario without looking into many other factors it would be negative.
No straight answer to this one I feel as tooo many factors come into it.
Same as the stock market currency variations are factor and for some its positive but equally negative for some.
Now why do I think that here the negative reasoning will win 😯
December 6, 2007 at 2:54 pm #76513
……well it will if it’s fact, not just opinion!
December 6, 2007 at 3:01 pm #76514
Yep your right but there would be winners and loosers if it became fact today /tomorrow or in the next year 😉
If you want me to explain then send a P/M and I will reply. 😉
December 6, 2007 at 5:10 pm #76518
no need Frank, the facts are there to see for those with open eyes.
December 6, 2007 at 6:36 pm #76519
Just hope YOUR eyes are a little more open than they were when you went for THAT particular O.V.P development 😕 😕 😕
You appeared confused regarding the euro/pound situation,I offered/you declined. END OF 😯
December 6, 2007 at 8:41 pm #76522katyBlocked
If someone was selling in spain and returning to the UK they would get more GBP for their euro so they would be better off.
If buying a property here for 200,000 euros about 6 weeks ago it would have cost them 136,986, today144,927GBP
If someone is paying a 1000 euro mortgage, 6 weeks ago 675 GBP today 724GBP. Figures app. just an example of how it affects the UK market.
December 6, 2007 at 8:58 pm #76523
Back to the top of the topic, its a huge poblem for british buyers and sellers alike.
Sellers of less actractive stuff ie location etc and who have been on the market already for 18 months or more and will not reduce there price for what ever reason stand bob hope and no hope of selling.
Whatever serious buyers that are left will either have to lower there budget. negociate harder or find more stirling,simple as that.
Of course, as ive said before the british can always do a deal in sterling
December 7, 2007 at 9:26 am #76524
if i want information, i’ll ask it from someone who knows what they are talking about.
December 7, 2007 at 2:28 pm #76530
Had clients with O.V.P and have got 100% of their money back. 😉
There is no problem whatsover and at least I offered. 🙂
You just carry on feeling sorry for good ole Goodstich44 but forgive if I dont sympathise 😉
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